Property profile

21405 Parks Mill Rd Abingdon, VA 24211

OFF-MARKET
Other specialty properties
6,730 SF 7.06 ac lot Built 2004
Saved · see the list in your Dashboard

Property summary

AI-generated overview

Parks Mill is a historic multi-building grist mill compound in Abingdon, Virginia, featuring an existing special use permit and approximately 7.47 acres of land. The principal historic grist mill dates to the late 1700s and is a substantial structure that was historically used as a mill and is configured for adaptive reuse (such as a restaurant/bar, gallery, wellness pavilion, lodge, or related hospitality uses). Surrounding the mill are three detached buildings constructed in 2003, creating a flexible compound-style layout with a total building area of approximately 2,100 square feet; the primary residence functions as owner’s retreat or caretaker quarters, and a secondary building includes covered porches for guest accommodation or studio space. The compound also includes a bathhouse and a utility building that support event operations and can be repurposed for wellness or service uses. Event-oriented infrastructure is distributed across the site, including parking, site utilities, ADA considerations, and multiple bathroom facilities suitable for gatherings up to approximately 300 attendees. The property has nearly one mile of creek frontage, including a private waterfall, and portions of the site include floodplain areas. Zoning is described as agricultural, mixed-use, and special-use, providing flexibility for hospitality, educational/cultural, and residential concepts, including the potential to support up to ten tiny homes in appropriate areas. A septic system was newly permitted in 2021.

Property profile

Verified
Property type Other specialty properties
Year built 2004
Total area 6,730 SF
Lot 7.06 ac (307,534 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel Resort

Location

21405 Parks Mill Rd Abingdon, VA 24211
Abingdon metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 21405 Parks Mill Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message